Turtle Beach Corporation announced a $20 million share repurchase agreement with Diversis Capital.
The Donerail Group acquired shares of Turtle Beach common stock at the same purchase price.
Following the transaction, Diversis will own approximately 10% of Turtle Beach's common stock.
Share Repurchase Agreement
Turtle Beach repurchased 694,926 shares of common stock from Diversis Capital at $14.41 per share.
Donerail Group Acquisition
The Donerail Group acquired 693,962 shares of Turtle Beach common stock from Diversis.
Ownership Stake
Diversis will retain approximately 10% ownership of Turtle Beach after the transaction.
CEO's Statement
Cris Keirn, CEO of Turtle Beach, expressed confidence in the company's long-term value creation through the share repurchase.
Investment Increase
The Donerail Group, as an investment management firm, increased its stake in Turtle Beach to drive value for shareholders.
- The share repurchase indicates the company's confidence in its own strategies and future growth potential.
- The completion of the debt refinancing signifies financial stability and flexibility for Turtle Beach Corporation.
The share repurchase and debt refinancing demonstrate Turtle Beach's commitment to enhancing shareholder value and maintaining financial strength. The alignment of major stakeholders signals a positive outlook for the company's future.